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35 West Main St

CVS Ground Lease At 35 West Main St In Norton, MA Sold By Waldman & Associates For $2.35M
SOLDRetail

CVS Ground Lease At 35 West Main St In Norton, MA Sold By Waldman & Associates For $2.35M

35 West Main St

$2,350,000

Building Size

Asset Type

Retail

Closing

Apr 27, 2023

AI

A ground lease with CVS as the tenant at 35 West Main St. in Norton, MA has been sold for $2.35 million. The property, representing a retail asset type, is located in the Norton market. The sale was made after CVS extended its ground lease through January 2041. Waldman & Associates, represented by Dan Waldman, facilitated the transaction.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $2,350,000
  • Address: 35 West Main St, Norton, MA
  • Market: Norton, MA
  • BROKER: Dan Waldman - Waldman & Associates

The property at 35 West Main St. in Norton, MA, was sold in a ground lease deal with CVS as the tenant for $2.35 million, achieving a 4.7 cap rate. The property has been on and off the market over the years, and this sale was made possible by CVS's extension of the ground lease through January 2041.

Players

Daniel J. Waldman

Waldman & Associates

Broker

$61.6M

vol

13 deals

Broker

Grimsby Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.75%

Cash-on-Cash

-1.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93